Global satellite communications provider Viasat (NASDAQ: VSAT) will be reporting results this Thursday after market hours. Here’s what to look for.
Viasat missed analysts’ revenue expectations last quarter, reporting revenues of $1.16 billion, up 3% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Viasat a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Viasat’s revenue to grow 5.2% year on year, improving from its flat revenue in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Viasat has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Viasat’s peers in the telecommunication services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Globalstar delivered year-on-year revenue growth of 16.7%, missing analysts’ expectations by 0.7%, and Iridium reported revenues up 1.9%, falling short of estimates by 0.9%. Globalstar’s stock price was unchanged after the resultswhile Iridium was down 3.6%.
Read our full analysis of Globalstar’s results here and Iridium’s results here.
There has been positive sentiment among investors in the telecommunication services segment, with share prices up 6.6% on average over the last month. Viasat is up 41.5% during the same time and is heading into earnings with an average analyst price target of $65.50 (compared to the current share price of $82.99).
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